By the Associated Press
Wilmington, N.C., Feb. 2—On the eve of his trial in federal court here Lieut. Governor W.B. Cooper reiterated here tonight that he has no intention of resigning his office in the state government. A report in circulation here has it that he will turn his resignation in because of indictments returned Saturday and on which he will go to trial tomorrow, charging him with various alleged criminal acts in connection with the failure of The Commercial National Bank of Wilmington of which he was chairman of the board of directors, was declared by Lieutenant Governor Cooper to be without foundation.
“I have no intention of resigning, and I know of no reason why I should resign,” Mr. Cooper said in a telephone conversation tonight. “I hold the same position as that which I announced at the time of my arrest, that I am guilty of no wrongdoing, that I will be acquitted, and that, in fairness to myself, there is no good reason why I should resign as lieutenant gov error.
A charge of conspiracy in connection with the failure of the bank in which the accused are Lieutenant Governor Cooper and his brother, Thomas E. Cooper, President of the defunct bank, will be brought to trial tomorrow afternoon before Judge Henry G. Connor.
Set for trial and expected to be taken up at the present session of court as soon as the conspiracy charge is disposed of are charges against Horace C. Cooper, cashier of the defunct bank and son of the lieutenant governor, and Clyde W. Lassiter.
Embezzlement, conversion and misapplication of funds, making of false reports to the comptroller of currency and making of false entries in the books of the bank are charged against the four defendants.
The opening session of federal district court tomorrow afternoon for trial of the Cooper bank case is expected to be consumed in the selection of a jury, and the taking of evidence is expected to start Tuesday morning. District Attorney Irvin B. Tucker will represent the government and Lieutenant Governor Cooper and his brother will be represented by John D. Bellamy and Sons, Herbert Mc Clammy and W.F. Jones of Wilmington and R.C. Lawrence of Lumberton.
The district attorney elected to try first the conspiracy charge. Pending when that action is completed the indictments charging Lieutenant Governor W.B. Cooper and his brother with joint culpability in a number of alleged criminal acts and a separate indictment against Thomas E. Cooper. The latter and C.W. Lassiter are named jointly in an indictment charging them with embezzling and misapplying funds of the bank in connection with an automobile business operated by Lassiter, and a fifth indictment charges Horace Cooper with misapplication of funds and making false entries. The trials of the cases are expected to extend over the greater part of two weeks.
Total defalcations exceeding $115,000 are alleged against the Coopers and Lassiter in the five indictments returned Saturday by the federal grand jury.
Lieutenant Governor Cooper and Thomas E. Cooper are accused jointly in the indictments of alleged illegal acts being resulted in approximately $71,000 being “wholly lost” to the bank and its funds being depleted in that aggregate amount. Thomas E. Cooper is individually charged in the indictment against him with the alleged disappearance of $14,901 of the bank’s funds. Thomas E. Cooper and Lassiter are charged in the indictment with joint responsibility in the alleged embezzlement or misapplication of $26,602, and Horace Cooper is accused in the indictment against him of converting to his own use a total of $4,612.
The largest single amount mentioned in the indictments is $43,000 which Lieutenant Governor Cooper and T.E. Cooper are alleged in the conspiracy indictment to have converted and misapplied to their own benefit by the alleged fraudulent and fictitious transfer of 43 shares of stock of the bank, from Lieutenant Governor Cooper to T.E. Cooper, and the alleged sale by the latter of the same stock to a number of Wilmington citizens. The indictment alleges that the stock is worthless and that it was sold by fraud and misrepresentation. This alleged transfer occurred at about the time when T.E. Cooper returned here from Raleigh, where he had been vice-president of the Merchants National Bank, to become president of the Commercial National Bank.
From the front page of the Durham Morning Herald, Feb. 4, 1924
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